Save on taxes with the IRA Rollover

Posted on: Tuesday, December 23rd, 2014 by Gregory McMillan

Act now to save on your 2014 Taxes with the IRA Rollover tax-free distribution from your retirement account to Emory and Henry College.

On December 31, 2014, the recently passed IRA Rollover expires and with it the opportunity to make a tax-free distribution from your retirement account as a gift to Emory & Henry College. Under this legislation, gifts to Emory & Henry College from your IRAwill:

  • Be an easy and convenient way to make a gift from one of your major assets
  • Be excluded from your gross income: a tax-free rollover
  • Count toward your required annual minimum distribution

For your gift to qualify for benefits under the extension:

  • You must be 70½ or older at the time of your gift
  • The transfer must go directly from your IRA to Emory & Henry College
  • Your total IRA gift cannot exceed $100,000

Contact your IRA plan administrator and notify them of your intentions to make an IRA Rollover gift before the end of the year. They will work with you to complete the necessary forms so that the transfer can be completed by the end of the year.

If you have questions, please contact Greg McMillan, Senior Advancement Officer, at 276-944-6838 or at L\h~{IP#D&g/7lQ}]#[6@Vhh2.t[iPmDR2s.

Thank you for including Emory & Henry College in your year-end giving.

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